Question

How many rupees of compound interest on ₹1000 at 10% p.a.compound Annually for 2 years is ?
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Answer 1

• Refer the attachment:)

—FairyPie♡

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Answer 2

$\large\pink{\sf{Given:}}$

Principal= Rs. 1000

Rate= 10%

Time=2 years

$\large\purple{\sf{To\:Find:}}$

Compound interest=?

$\large{\boxed{\tt{\colorbox{pink}{Solution:}}}}\:$

• To find compound interest, first we will need to find amount.

Formula:

$\begin{gathered}\\ \tt{:}\dashrightarrow A=P[1+\frac{r}{100}]^{n}\end{gathered}$

$\begin{gathered}\\ \sf\longmapsto A=1000[1+\frac{10}{100}]^{2}\end{gathered}$

$\begin{gathered}\\ \sf\longmapsto A=100×[\frac{11}{10}]^{2}\end{gathered}$

$\begin{gathered}\\ \sf\longmapsto A=100×\frac{11}{10}×\frac{11}{10}\end{gathered}$

$\begin{gathered}\\ \sf\longmapsto A=10×11×11\end{gathered}$

$\large\color{gold}{ \tt{A=Rs.1210}}$

Now,

$\begin{gathered}\\ \tt{:}\dashrightarrow C.I=Amount-Principal\end{gathered}$

$\begin{gathered}\\ \sf\longmapsto C.I=1210-1000\end{gathered}$

$\large\color{cyan}{ \tt{C.I=Rs.210}}$

☣Henceforth, The interest compounded annually is Rs.210.